Partnering with the Bahrain Economic Development Board and building on the success of the World Islamic Banking Conference (WIBC), we are enthused to introduce a new conference called Enterprise Excellerate. This conference will focus on the growing field of FinTech, entrepreneurs, start-ups and digital banking.

Over the past decade FinTech has become a prominent sector within the global startup scene. As the world’s financial systems continue to become more interconnected, the demand for better technology to link these systems rises. We’ve seen FinTech disrupt the traditional banking sector through new and innovative ways of lending, transferring money and making payments.

With FinTech gaining importance around the world, the region is also looking at building entrepreneurial ecosystems where startups, related to finance and other industries, can get their start and grow. Governments are investing heavily into creating environments where entrepreneurs can gain funding and support, while incubators and accelerators are springing up to aid in this development.

The banking industry is constantly looking to evolve to grow and remain competitive, and technology remains to be one of the more important factors that plays into this. With this, comes the rise of digital banking. Efficiency, ease and safety are undoubtedly the factors that will enhance a digital banking experience for customers. How are banks engaging customers, and what do they need to do to remain an edge over others?

This summit will be the event to attend to cooperate with advanced FinTech hubs to build on innovation, understand the value in a supportive start-up environment and look towards the future of digital banking.

With high mobile penetration, a young demographic, skilled and educated workforce and government support – the MENA region is a rich ground for startups. This conference will explore how to best create an entrepreneurial ecosystem around the region, looking at what governments and independent companies are doing to support and fund start-ups.

FinTech is the hot topic in the field of banking, technology and start-ups. What does this entail, can financial institutions work with them, and how can the MENA region catch up with other countries in excelling in this field? Enterprise Excellerate will be the event to attend in order to grow, discuss and expand in technology and innovation.

In the GCC, only 34% of banking customers use mobile banking, and 55% percent are not satisfied with the current offerings according to the 2015 EY GCC Digital Banking Report. Banks in this region need to accelerate the implementation of digital banking to meet the demands of their customers, as well as catch up with countries that are advancing in this field at a quicker rate. Many of the traditional banks, including those in Islamic Finance, are not innovating fast enough to meet the demands of the customer. There is a need to understand the value of digitalization in order to retain customers and gain new ones. This conference will explore the advancements that are being made in digital banking, as well as how we can become more financial inclusive.

OBJECTIVES

Provide an arena for the enhancement of FinTech in MENA

Bring together start-ups with potential investors

Highlight the new technology and innovations that can be embraced by traditional and Islamic banks in digital banking

Discuss the need for further governmental support in creating an environment for entrepreneurs and start-ups to grow

STATISTICS

Only 24 % of Muslim adults have an account at a bank or formal financial institution vs. 44% non-Muslims

In recent years, fintech companies, which are mostly startups, have increased dramatically in number – from about 1,000 in 2005 to over 8,000 in 2016

Investments in financial technology have growth exponentially in the past decade — rising from $1.8 billion in 2010 to $19 billion in 2015